{"id":45198,"date":"2023-03-23T16:06:58","date_gmt":"2023-03-23T15:06:58","guid":{"rendered":"https:\/\/staging.captrader.com\/glossar\/aktienoptionen\/"},"modified":"2024-03-27T14:53:59","modified_gmt":"2024-03-27T13:53:59","slug":"stock-options","status":"publish","type":"glossar","link":"https:\/\/www.captrader.com\/en\/glossar\/aktienoptionen\/","title":{"rendered":"Stock options"},"content":{"rendered":"

Stock options<\/strong> are important financial instruments for hedging equity positions for both institutional and private investors. They also offer numerous opportunities for speculative traders. In this article, you will learn what stock options are and what special features they have.<\/p>\n\n\n\n

What is a stock option?<\/h2>\n\n\n\n

The buyer of a stock option acquires the right to purchase a certain number (100) of the underlying shares at a certain price (strike price) (Call option<\/a>) or for sale (Put option<\/a>). The option seller receives from the option buyer the Option premium<\/a> and in return undertakes to buy (put) or sell (call) the shares if the option buyer exercises his right and exercises the option.<\/p>\n\n\n\n

Special features of stock options<\/h4>\n\n\n\n

Regarding the Rights and obligations of the option buyer and the option seller<\/strong> there are no fundamental differences between stock options and other options (e.g. index options or futures options). However, if you take a look at the contract details, you will recognize some special features.<\/p>\n\n\n\n

\"CapTrader_stock_options\"
In the contract details of stock options you can see, among others, the multiplier (100), the settlement method (physical delivery) and the exercise style (American)<\/figcaption><\/figure>\n\n\n\n

Multiplier<\/h4>\n\n\n\n

The Multiplier of stock options is usually 100<\/strong>. This means that the option price that you see in the Option Trader of TWS, for example, must be multiplied by 100 to calculate the actual option premium.<\/p>\n\n\n\n

Accordingly, one stock option relates to 100 shares. If the option is exercised, you buy or sell 100 shares of the underlying stock with one option.<\/p>\n\n\n\n

Settlement method<\/h4>\n\n\n\n

The settlement method of options can be either cash or physical. Stock options are subject to a physical settlement method<\/strong>. This means that if you exercise the option, you will physically receive the shares in your securities account (long or short).<\/p>\n\n\n\n

Exercise style<\/h4>\n\n\n\n

Stock options have a American exercise style<\/strong>. Thus, a stock option can be exercised during the entire term. In contrast, European-style options can only be exercised at the end of their term. (The exercise style has nothing to do with the country or place of trading and applies to options on American shares just as it does to European shares, for example).<\/p>\n\n\n\n

FAQ - Frequently asked questions about stock options<\/h2>","protected":false},"author":7,"featured_media":0,"template":"","class_list":["post-45198","glossar","type-glossar","status-publish","hentry"],"acf":{"blog_summary":"","blog_faq_schalter":"ja","faq_uberschrift":"","blog_faq_loop":[{"blog_faq_question":"Was sind Aktienoptionen?","blog_faq_answer":"Eine Aktienoption ist eine Kauf- oder Verkaufsoption, deren Underlying eine Aktie ist. Dabei bezieht sich eine\u00a0Option\u00a0in der Regel auf eine St\u00fcckzahl von 100 Aktien. Aktienoptionen k\u00f6nnen sowohl gekauft als auch verkauft werden."},{"blog_faq_question":"Was sind Index-Optionen?","blog_faq_answer":"Eine Indexoption ist eine Kauf- oder Verkaufsoption, deren Underlying ein (Aktien-)index ist. Als H\u00e4ndler k\u00f6nnen Sie Indexoptionen sowohl kaufen als auch verkaufen. Indexoptionen k\u00f6nnen zur Absicherung eines Aktienportfolios oder zu spekulativen Zwecken eingesetzt werden."},{"blog_faq_question":"Was sind Futures-Optionen?","blog_faq_answer":"Futures-Optionen sind Kauf- oder Verkaufsoption, deren Underlying ein Futures-Kontrakt ist. Futures-Optionen werden h\u00e4ufig von spekulativ orientierten Tradern genutzt und k\u00f6nnen in Kombination mit\u00a0Futures\u00a0oder weiteren Optionskontrakten eingesetzt werden."},{"blog_faq_question":"Was sind Optionen?","blog_faq_answer":"Optionen\u00a0sind Terminkontrakte, genauer gesagt bedingte Terminkontrakte. Das bedeutet, nur ein Kontrahent hat eine Erf\u00fcllungspflicht, w\u00e4hrend der andere ein Wahlrecht besitzt. Es gibt Kauf-Optionen \u2013 sog.\u00a0Call-Optionen\u00a0(kurz: Calls) \u2013 sowie Verkaufsoptionen \u2013 sog.\u00a0Put-Optionen\u00a0(kurz: Puts)."},{"blog_faq_question":"Was ist eine Optionspr\u00e4mie?","blog_faq_answer":"Als Optionspr\u00e4mie bezeichnet man den Preis einer\u00a0Option. Diese wird vom Optionsk\u00e4ufer an den Optionsverk\u00e4ufer gezahlt. Der Begriff \u201cPr\u00e4mie\u201d bringt zum Ausdruck, dass Optionen eine Art Versicherungscharakter aufweisen."}]},"_links":{"self":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar\/45198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/glossar"}],"about":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/types\/glossar"}],"author":[{"embeddable":true,"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/users\/7"}],"wp:attachment":[{"href":"https:\/\/www.captrader.com\/en\/wp-json\/wp\/v2\/media?parent=45198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}